SUMMARY
- Healthcare firm Even Healthcare has secured $20 million in a new funding round, led by Khosla Ventures, coming after a gap of 20 months.
- Khosla Ventures contributed the most at Rs 83.4 crore or $10 million, with Pathfinder and Mercury Fund following with Rs 21.3 crore and Rs 26.9 crore, respectively.
- Reportedly, the company’s valuation has risen to around Rs 753 crore or $91 million following the allotment.
Healthcare firm Even Healthcare has secured $20 million (approximately Rs 169 crore) in a new funding round, led by Khosla Ventures, coming after a gap of 20 months.
The firm’s board has approved issuing 2,17,589 preference shares at a price of Rs 7,762 each to raise the $20 million, as detailed in its filings with the Registrar of Companies.
Khosla Ventures contributed the most at Rs 83.4 crore or $10 million, with Pathfinder and Mercury Fund following with Rs 21.3 crore and Rs 26.9 crore, respectively. The remaining funds were contributed by Simon Fiduciaria, DLB Ventures, Lex Italia, 8 VC, Rainmatter fintech, and other investors.
In addition to this, Even Healthcare has expanded its employee stock option (ESOP) program, introducing new options that increase the total pool size to 1,35,000, as detailed in a separate filing. The ESOP value is estimated at $12 million.
Reportedly, the company’s valuation has risen to around Rs 753 crore or $91 million following the allotment.
Even Healthcare offers subscription-based plans for diagnostics, consultations, and hospital stays up to cost of Rs 50 lakh. The company only collaborates with hospitals that ensure its members receive quality care in return for a regular payment.
Founded by Mayank Banerjee, Matilde Giglio, and Alessandro Lalongo, Even also provides customized managed care programs and Even cards for bill payments at partner hospitals and labs. The company claims to stand out from medical insurance by offering unlimited outpatient consultations and diagnostics.
To date, Even Healthcare has managed to raise around $40 million, including $15 million from Alpha Wave and Aspada in November 2022, and an initial $5 million in seed capital from Khosla Ventures in 2021.
Source: Entrackr
